Mortgage Strategy
9 October 2006

  • Consumers considering self-cert mortgages is on the up

    10 Oct 2006

    My Mortgage Direct says more workers are having to consider self-cert mortgages as they trade the nine to five job for life for self-employment and short-term contracts.

  • Knight Funding promotion

    9 Oct 2006

    Knight Funding has launched a promotion on secured loans. It will pay an extra 500 on top of the normal proc fee to any broker who submits two secured loan cases in any one month up to December 31 2006, and a further 500 if a third case is submitted in the same month.

  • NR launches flexible fixes

    9 Oct 2006

    Northern Rock has introduced two flexible fixed rate products available from 4.39% with a 995 product fee or from 4.84% as a fee-saver option.With UK debt at an all-time high it's no surprise the government is racking its brain to think of ways to tackle the problem. One solution it is considering is introducing a GCSE in personal finance, teaching teenagers how to manage store cards, take out loans and start saving for a mortgage.

  • A&L launches new specialist mortgage range

    12 Oct 2006

    Alliance & Leicester has improved its current range of specialist mortgages.

  • A&L's lack of B2L discretion leads to problems for clients

    9 Oct 2006

    From Brian Keane

  • Acronyms draw a blank

    9 Oct 2006

    Research by BM Solutions shows that a worryingly large number of consumers do not understand financial acronyms.While these short and snappy terms are great for finance specialists, the public often cannot make sense of them, it says.

  • Advantage to move into second charge

    12 Oct 2006

    Advantage has confirmed it is to enter into the second charge loans market by funding Paragons sub-prime second charge range.Keith Dearling, managing director at Advantage, says: We are entering into the second charge lending market through funding of Paragons sub-prime second charge range. I cannot give any further details at the moment."

  • Affordability-based lending helps buyers

    9 Oct 2006

    In explaining the changing effect of wage in- flation on the housing market and affordability, my boss often (and far too cheerfully for my liking) uses our respective experiences as an example.

  • Alliance Trust sponsors IFAP

    13 Oct 2006

    Alliance Trust has become Independent Financial Advice Promotion's latest sponsor.

  • Almost half of landlords become landlords by chance

    13 Oct 2006

    New research shows that a large minority of landlords did not buy their first rental property with the intention of letting it out, according to the National Landlord’s Association latest survey.

  • AMI keen to work with CML to improve post-sale service

    9 Oct 2006

    The Association of Mortgage Intermediaries says it is looking to work with the Council of Mortgage Lenders to improve lenders' post-sale services to intermediaries.

  • ARs must be monitored effectively

    9 Oct 2006

    The Financial Services Authority has stepped up its activity in monitoring the mortgage market to check if intermediaries are complying with their regulatory obligations. Compliance is a big concern for companies that are responsible for either their own sales force or an appointed representative network.

  • Automated data system could reduce re-keying

    9 Oct 2006

    Financial systems and outsourcing specialist BancTec has launched MortgageWeb, an automated data exchange solution for lenders and packagers.MortgageWeb allows lenders and packagers to electronically exchange data relating to the mortgage application process, eliminating the need for the re-keying of information.BancTec says by using MortgageWeb, lenders and packagers can manage mortgage applications more effectively, speed up the application process and improve customer ...

  • Average UK homeowner could be liable for IHT in eight years

    9 Oct 2006

    Research from Stroud & Swindon has revealed that in just eight years house price increases could make the average UK homeowner liable for Inheritance tax.

  • B2L exclusive via em-financial

    9 Oct 2006

    To mark em-financial's fifth birthday, Platform has launched an exclusive buy-to-let mortgage product via the packager. The deal is fixed for five years at 5.55% up to 85% LTV.

  • B2L portfolio sizes to grow

    9 Oct 2006

    Paragon Mortgages' latest buy-to-let trend survey reveals that the average portfolio size is expected to grow by 3.4% over the next year, while yields are set to rise from 6.06% to 6.13%. The average portfolio size has risen in value by 7.3% from 1.43m to 1.54m over past quarter. In numerical terms, portfolios are up 4.4% from 11.3 to 11.8 properties. Some 91% of landlords say tenant demand is growing or stable and gross yields are expected to increase slightly over the next 12 ...

  • Bankhall launches online file review

    9 Oct 2006

    Bankhall launched an online file review service at its annual conference in Berlin last week.

  • Barclays Insurance warns homeowners to prepare for freak weather

    11 Oct 2006

    Barclays Insurance is warning home owners to be prepared for storms and floods as we approach another season of possible freak weather.

  • BDS launches with edeus

    10 Oct 2006

    BDS has launched with edeus, offering its packager product range including, buy-to-let, adverse buy-to-Let, adverse, self-cert and adverse self-cert.

  • BeatThatQuote.com launches life insurance price comparison service

    11 Oct 2006

    BeatThatQuote.com is a new web site that has just launched a price comparison service on life insurance. From its launch the site has access to life insurance cover from over 30 providers. Sophie Neary, director at BeatThatQuote, says: “Mortgage protection life insurance is a classic case of a secondary purchase where people spend ages looking for a good mortgage deal, then lose momentum and overpay on life insurance.”

  • Being an AR is just not worth the risk

    9 Oct 2006

    While it seems people are starting to see through the network spin, others remain desperate and perpetrate the same mumbo-jumbo as before.

  • blackandwhite.co.uk appoints training and development manager

    11 Oct 2006

    blackandwhite.co.uk has appointed Deanna Lathbury as its new training and development manager.

  • BSA plays down profit report

    9 Oct 2006

    The Building Societies Association has played down a financial services report last week highlighting a slump in society profits.

  • Business Lending expands distribution

    10 Oct 2006

    Business Lending, the London based specialist commercial lender, has announced an expansion of its distribution strategy by increasing the number of packagers it uses from five to seven.

  • Buy-to-let guide published

    9 Oct 2006

    The Association of Residential Letting Agents and the Council of Mortgage Lenders have published a 2007 buy-to-let guide for consumers.Available through all ARLA member letting agents, the guide looks back over the buy-to-let's first decade. It also provides investors with an overview of the many developments in mortgages, legislation, insurance and tax.

  • C2 set to hit new business target

    9 Oct 2006

    c2-financial says new business levels for its C75 and C55 products range are set to hit target. New business volumes have increased by over 100 applications a month. Based on the company's average loan size of just under 130,000, this means c2's business could rise by over 156m this year. Justin Caffrey, managing director of c2, says: "When we launched the C75 and C55 products, we set out to increase our market share. These figures show we are on course to achieve that."

  • CHL reduces B2L rental cover

    9 Oct 2006

    CHL Mortgages has reduced the rental cover requirement to 115% across its buy-to-let range. The move applies to all its 85% and 90% LTV products and is designed to appeal to landlords with tight rental yields.

  • CII launches online exam service

    13 Oct 2006

    A new online exam service is being launched by the Chartered Insurance Institute in the UK from the beginning of next year.

  • CML defends league table

    9 Oct 2006

    The Council of Mortgage Lenders has defended its method of calculating the top 10 UK mortgage lenders, despite strong criticism from GMAC-RFC.

  • Complete signs deal with Elmswood.eu

    9 Oct 2006

    Complete Mortgage and Loan Services has signed Complete Packaging Services Elmswood.eu as its latest franchise partner.

  • Creative leaves PMPA to join Freehold

    9 Oct 2006

    Creative Mortgage Solutions has decided to leave the Professional Mortgage Packagers Alliance and join Freehold.CMS, which was a member of the PMPA until the end of September, decided to join Freehold after a meeting between its sales and marketing director Simon Nicholson and Freehold spokesman Paul Brett.Nicholson, says: "I have been convinced for a long time of the need for packagers to work together which is why I joined PMPA. But sometimes when you enter a relationship it ...

  • Credit-impaired range unveiled

    9 Oct 2006

    Coventry has launched a product range for the credit-impaired market.The range includes fixed rate mortgages that are available both with and without early repayment charges.

  • Criticism of our name and website was poorly timed

    9 Oct 2006

    From Andy Golding

  • Curriculum Vitae

    9 Oct 2006

    Name: Simon Baker

  • Cut taxes to help more people onto the ladder

    9 Oct 2006

    The government is promising to help 20,000 key workers get on the property ladder in England and Wales with the launch of its Open Market HomeBuy Scheme, but will it do anything more than scratch the surface?

  • Dear Delia

    9 Oct 2006

    Stephanie is a nurse who earns 19,000 a year and she wants to buy a new-build property under a shared ownership scheme. The price of the property is 90,000 and she is buying a 50% share. She has savings of 2,000 but no deposit. She would like more information on buying a shared ownership property and what her options are.

  • Death knell for networks

    9 Oct 2006

    The network model is dying out as increasing numbers of brokers choose to become directly authorised, says Bankhall's CEO Peter Mann.

  • Do lenders' growth targets exceed the expected growth of the market as a whole?

    9 Oct 2006

    Mehrad Yousefi is head of intermediary mortgages at Alliance & Leicester

  • Don't criticise lenders taking the fast lane

    9 Oct 2006

    Instant mortgage offers are a huge advance. Getting a mortgage in days rather than weeks will benefit borrowers.But while some market players are prepared to acknowledge this achievement, there are some who, having been left without the technology, seek to undermine it.

  • Duncombe joins Advantage

    9 Oct 2006

    Jeremy Duncombe joins Advantage today as its business development director, having previously worked as head of sales at Platform. Duncombe, who has finished gardening leave, will oversee a team of divisional sales managers, and will be responsible for managing key account relationships with packagers, mortgage clubs and distributors.

  • Easier2move appointments

    9 Oct 2006

    Easier2move has appointed Andy Stockwood and Jo Leonard as account managers. Stockwood joins from estate agent Link-up where he was national sales manager. Leonard comes from Royal Bank of Scotland where she was a property insurance adviser.

  • eConveyancer now available via Paymentshield mortgage club

    12 Oct 2006

    eConveyancer, the online system which enables intermediaries to select and instruct conveyancers on behalf of their clients, is now available to all Paymentshield mortgage club members.

  • Ensuring clients understand the APR

    9 Oct 2006

    One of the industry's hobby horses is the usefulness or otherwise of the APR. This has moved up the agenda with the Financial Services Authority giving its support to keeping the APR for the foreseeable future, triggered by the gathering pace of EU harmonisation.

  • Enterprise Group offers free admin fees

    9 Oct 2006

    For the remainder of 2006, whenever a broker uses Enterprises EDGE system to source their sub-prime solutions, there will be no admin fee payable with the resulting application.

  • Equality law could lead to unfairness

    9 Oct 2006

    Back in December 2004 the government made the decision to opt out of the EU Equal Treatment Directive - good news for the insurance industry as it meant premiums could continue to be set based on gender risk. But now this move looks like it might bite back, depending on the government's interpretation of the rules.The main aim of the directive is to promote equal treatment between men and women in the access to and supply of goods and services. It restricts the use of differential ...

  • Equity schemes are still good value

    9 Oct 2006

    Hot on the heels of Mortgage Ex-press' recent move, Bristol & West has finally shown further commitment to the equity release market by cutting the interest rate on its lifetime mortgage.

  • Estate agents play down RICS warning over gazumping

    12 Oct 2006

    Paul Smith, chief executive of haart estate agents, has spoken out against RICS’ latest housing market survey, denying there is a problem of gazumping in deals.

  • estateangels.co.uk rejects takeover bid from Look4aproperty.com

    9 Oct 2006

    Property and financial services website estateangels.co.uk has rejected a multi million pound takeover bid from Look4aproperty.com.

  • Exclusive signs up compliance expert

    9 Oct 2006

    Exclusive Connections has em-ployed compliance specialist Expert Mortgage Advice to conduct on-site compliance health checks on all potential members.

  • Exit strategy from Openwork

    9 Oct 2006

    Openwork is offering its appointed representatives a guaranteed exit strategy should they decide to retire and close their businesses.

  • Few surprises in latest network list

    9 Oct 2006

    The table below shows there were 2,781 appointed representative firms in mortgage networks as of September 30. The data, extracted from the Financial Services Authority's web register, is for networks regulated for mortgage and insurance activities only, and therefore doesn't show traditional IFA networks such as Sesame, Burns Anderson and latterly Personal Touch Financial Services that are regulated for investment business.

  • First and last

    9 Oct 2006

    Mike Davies, head of compliance, Unity Homeloans

  • First Title Insurance in deal with ING Direct

    13 Oct 2006

    First Title Insurance plc has been chosen by ING Direct to enable the completion of its web based remortgage solution using title insurance.

  • First-timers prefer home insurance

    9 Oct 2006

    Latest research from the Mortgage Advice Centre shows many first-time buyers favour protecting their property above themselves. Those questioned told MAC they believed taking out added insurance and protection against loss of income, sickness and unemployment was too expensive.

  • Friends Provident buys stake in Home of Choice

    13 Oct 2006

    Friends Provident is understood to have made a substantial investment in mortgage network Home of Choice.The UK insurance giant, which recently announced the closure of its own network Friends Orion, is believed to have become a minority shareholder in the network, which launched just over one year ago.The network is headed up by chairman Keith Baldwin, sales director Gerry O’Brien and CEO Richard Coulson.More to follow…..

  • FSA urges firms to prepare for regulatory changes

    10 Oct 2006

    The Financial Services Authority is urging firms to use its handbooks to prepare for regulatory changes in 2007.

  • Fun Stuff

    9 Oct 2006

    What's your favourite restaurant?San Carlo in Bristol for its fillet steak with peppercorn sauce, I try to go at least once a month. Failing that I'm partial to Kentucky Fried Chicken.What's the most you've ever spent on dinner for two?£280 at the Fat Duck in Bray two years ago. We went for my fiancée's birthday - it obviously made a good impression because we're now married. Highlights included parsnip cornflakes and beetroot jelly.What's your favourite band?S ...

  • GEMHL gives brokers chance to win tickets for the ashes

    11 Oct 2006

    GE Money Home Lending has launched a new online cricket-based game for accredited packagers, satellite packagers and brokers under its First National brand, allowing them the opportunity to win a trip to the Ashes. Test Catch Cricket gives brokers and packagers the chance to pitch their abilities against GEMHLs skilled online batsman.

  • Good understanding amongst equity release clients

    12 Oct 2006

    An independent study commissioned by Just Retirement to determine the levels of client understanding of the equity release product shows most clients feel they have good understanding.

  • Group mortgages work well for many first-time buyers

    9 Oct 2006

    From Carina Kemp

  • Halifax rejects broker complaint

    9 Oct 2006

    Halifax has rebutted accusations of unfair marketing after complaints about one of its promotional letters.

  • Halifax says outlook is positive for housing

    9 Oct 2006

    The latest house price index from Halifax for September reveals a positive outlook for the housing market, with prices up by 1%.But the annual rate of house price inflation eased for the third successive month to 8% - the lowest rate since April this year.The nine English regions have seen remarkably similar house price gains in the past 12 months, with all regions experiencing rises of between 5.5% and 8.5%, the narrowest range recorded since the index began in 1983.Prices ...

  • Heritable Bank unveils range

    9 Oct 2006

    Heritable Bank has launched a range of deals that offer lower interest rates for those borrowing up to 80% LTV.

  • HIPs have been painted green by politicians

    9 Oct 2006

    The latest pronouncement to come out of the Department of Communities and Local Government is interesting for two important reasons.

  • Home of Choice announces roadshows

    11 Oct 2006

    Home of Choice is hosting a series of recruitment roadshows across the UK during October and November.

  • HomeBuy agents will tie borrowers to their IFAs

    9 Oct 2006

    Just under half of the 23 HomeBuy agents that borrowers have to use to take out the government's Open Market HomeBuy scheme tie borrowers to a restrictive IFA panel.Below is a table of the 23 areas the UK has been divided up into and what the policy is regarding brokers offering advice on HomeBuy products. Opinions are sharply divided about the logic of this.Richard Stone, director of SPF Sherwins, which has been involved with the HomeBuy scheme for over a year, argues that ...

  • HomeBuy is open to all, government tells brokers

    9 Oct 2006

    The government has reassured brokers that its Open Market HomeBuy scheme is open to all advisers, despite 10 out of 23 HomeBuy agents having restricted IFA panels.

  • HomeBuy scheme is too complicated

    9 Oct 2006

    It's been a long time coming and as with so many things that you are made to wait too long for, it has turned out to be a bit of a disappointment.

  • HomeBuy should be last port of call

    9 Oct 2006

    So our old friend the first-time buyer received a shot in the arm last week with the government's launch of the Open Market HomeBuy scheme. The scheme will help an estimated 20,000 people buy their first homes, yet it seems to me that it should be the last port of call for desperate borrowers.With Open Market HomeBuy a borrower does not own the whole property as the government and a lender also own shares. Borrowers must take a minimum stake of 75% for which they arrange a mortgage ...

  • Hometrack AVM backbone of ING Direct mortgage

    10 Oct 2006

    ING Direct will be using Hometrack’s Automated Valuation Model service in its mortgage offering.

  • House prices in London rise by 7.3% says Nationwide

    12 Oct 2006

    The latest Nationwide residential house prices for Q3 2006 proved that the economy is booming, with increases to most house prices across the UK.

  • House prices rise by 1.6% in August

    9 Oct 2006

    The Department of Communities and Local government has released the results of its house price index showing that the mix-adjusted average house price in the UK in August 2006 stood at 197,631, up from 194,454 in July 2006. The UK annual house price inflation in August 2006 was 7.7%, up from 6.0% in July 2006. Annual house price inflation in London was 7.9% in August 2006, up from 7.1% in July 2006.

  • IFS runs masterclass for nice people

    11 Oct 2006

    The IFS school of finance is to run a masterclass entitled 'Nice People Can Succeed' with Hamish Taylor.

  • Industry should give serious thought to its position regarding compulsory MPPI

    9 Oct 2006

    From Iain Macqueen-Sims

  • Infinity Mortgages appoints director of sales

    13 Oct 2006

    Infinity Mortgages has appointed Jason Neale to its board of directors in the role of director of sales.

  • ING Direct appoints e.surv as panel manager

    10 Oct 2006

    Following the recent launch of ING Direct into the mortgage market, e.surv has confirmed that it has been appointed to supply and coordinate valuation services for the bank.

  • ING Direct enters UK mortgage market

    9 Oct 2006

    Savings bank, ING Direct enters the mortgage market this week with two products, a fixed rate and a flexible rate.

  • Insurance deal for John Lewis

    9 Oct 2006

    John Lewis's direct service company Greenbee has selected Friends Provident to offer life assurance policies to its customers from 2007. Greenbee is John Lewis's new direct services company, offering a range of financial, travel and leisure services. Over eight million customers of John Lewis and Waitrose will be able to buy Friends Provident's term assurance product through Greenbee's online service or by phone. The offer will be showcased in bi-monthly magazine Source.

  • It works for me

    9 Oct 2006

    In the 1980s, when centralised lenders entered the mortgage market in this country, they brought with them a number of innovative product developments, one of which was the self-certified mortgage. Today, self-cert mortgages play a central role in the intermediary mortgage market and they are increasing in popularity.

  • Jobs: BDM of the week

    9 Oct 2006

    Goldsmith Williams' Emma Coffey is technically proficient and totally committed. She is willing to sacrifice her social life to ensure brokers get the best possible service, says Eddie Goldsmith

  • Kensington moves a step closer to instant offers

    9 Oct 2006

    Kensington Mortgages says it is a step closer to instant offers with the launch of automated valuations and electronic IDs on its K-net e-commerce platform.For remortgages, K-net can now allow Kensington to instruct an automated valuation on a property and automatically check the identity of the applicants, eliminating the time required to carry out a physical valuation and chase hard copy documentation to create a fast-track service for applications and cut processing time.Some ...

  • KRS goes on the road with its Lifetime Advisory Services

    10 Oct 2006

    Key Retirement Solutions will be hosting a series of roadshows for its new venture Lifetime Advisory Services.

  • Lenders can help HomeBuy succeed

    9 Oct 2006

    We often talk about the innovations that lenders manage to come up with to service sectors and open up niches. This has been true across the market, for example, in the development of affordability models over income multiples and technology that makes instant offers a reality.

  • Lenders must choose their route with care

    9 Oct 2006

    It has been difficult keeping up with all the new entrants coming into the specialist lending sector recently. But with all these players entering the market, they cannot be aiming for the same customers and not all the new entrants can be successful.

  • Lenders must learn graduate lessons

    9 Oct 2006

    As interest rates stay on hold for another month, potential first-time buyers' confidence may have received a boost, despite predictions of an imminent rise. What new borrowers need is to buy, not to yo-yo back and forth between going for it or not. They need to know their mortgage will help them manage their costs in a realistic way. Diving for a loan at the first sign of a stable interest market, or grabbing a deal before rates change, is hardly the best way to proceed.

  • Life Assurance panel launched by FMO

    12 Oct 2006

    First Mortgage Options has launched a life assurance panel comprising of five assurance companies that cover approximately 80% of the UK life assurance and critical illness market.

  • Linden scores high in customer satisfaction survey

    12 Oct 2006

    Linden Homes has scored the highest out of 28 house builders in a new customer satisfaction report.

  • Live anniversary celebration

    9 Oct 2006

    The Live Organisation celebrated its 10th anniversary at a black tie staff dinner recently. The event was used to recognise various staff members and colleagues for their contributions, with more than a dozen awards being presented.

  • Loanoptions website proves popular

    9 Oct 2006

    Loanoptions.co.uk says it has had over 400 requests from brokers for its free white label website since it launched the offer in August.The specialist national secured loan and commercial mortgage packager is offering intermediaries a compliant website for the marketing of secured loans, commercial mortgage and bridging finance.The website can become part of intermediaries' existing websites or act as a standalone website. The design, hosting costs and maintenance of the ...

  • Low-tech lenders will lose business

    9 Oct 2006

    Technology has already had a huge effect on the way brokers, lenders and for that matter networks conduct their business and this trend is set to gather pace.

  • Marketing Brief

    9 Oct 2006

    Standard Life Bankwww.standardlifebank.com

  • Marketwatch

    9 Oct 2006

    Swap rates had another up and down week. Early falls were counteracted and all rates finished higher than last week. The theme of the week was - the longer the term, the bigger the rise. Five-year money's 0.08% rise is its biggest weekly movement for ages. But is this a prompt to reserve five-year rates now or just a blip?

  • Me and my car

    9 Oct 2006

    My Mercedes CLS looks like a coupe but has the all important four doors - and even better it's on a hire contract so I'm already thinking about my next car, says Paul Suchet

  • Money is the key to happiness

    9 Oct 2006

    Research into the well-being of the nation by Standard Life Bank and the Centre for Future Studies has found that 70% of people feel that a lack of financial security is the main stumbling block to them being happy. And 50% say they will require financial advice to pursue their idea of happiness. More than half of those questioned had a life plan in place to realise their quest for happiness, but two-thirds did not have the money to pursue their plans. The research found that almost ...

  • MoneyQuest raises funds for charity

    13 Oct 2006

    Award winning financial services company, MoneyQuest, raised £10,585 for Cancer Research UK at its awards dinner held at the Radisson SAS, in Glasgow.

  • Mortgage Times offers online conveyancing service

    9 Oct 2006

    The Mortgage Times Group has linked up with Conveyancing Alliance Limited to provide an online conveyancing service.

  • Mortgage websites slammed

    9 Oct 2006

    Cassidy Davis has slammed some lender and intermediary websites for not being up to scratch and lacking even basic contact details.The insurance specialist investigated the quality of mortgage-related websites and is reminding companies that use the internet to sell their products to ensure they provide consumers with an adequate online service.It found a staggering 9% of websites contained no contact details and 25% could not be logged onto, coming up with error or 'under ...

  • MTE sees 121% increase in mortgage transactions

    11 Oct 2006

    The Mortgage Trading Exchange has seen a 121% increase in mortgage transactions delivered via the platform in the last six months.

  • Nationwide denies free HIP reports

    9 Oct 2006

    Nationwide last week dismissed as false media reports that it would be giving away Home Information Packs for free. The society was reported to be planning to offer packs for free to borrowers looking to move home and shift their mortgage to another lender, in a bid to convince them to remain on one of its products. But Larry Banda, head of mortgages at Nationwide, says: "We aren't sure about pricing at this stage, but I don't know anyone who has a final pricing on HIPs yet."

  • Network Data still top of AR list

    9 Oct 2006

    Network Data has remained in pole position on the Financial Service Authority's register, with 578 app-ointed representatives.

  • Networks that play the waiting game

    9 Oct 2006

    Cash-based companies such as retailers have long recognised the advantages of hanging on to suppliers' and customers' money for longer than they should, benefiting from extra days' interest.

  • Not making the grade

    9 Oct 2006

    The mortgage industry de-serves top marks for trying every trick to usher the next generation of first-time buyers into an increasingly hostile property market.

  • Not on electoral roll, no loan

    9 Oct 2006

    Credit reference agency Experian is warning that borrowers risk being denied credit if they are not registered on the electoral roll at their present address.Jill Stevens, director of consumer affairs at Experian, says some organisations will refuse to give credit or other financial services if a borrower's credit report shows that they are not registered to vote at their present address.Stevens says: "If an application is refused because a client's name isn't on the ...

  • On the interest-only road at long last

    9 Oct 2006

    The big news in the commercial mortgage world is the launch of a range by Commercial First.

  • Origo in funding talks with lenders

    9 Oct 2006

    Supporters of Origo are believed to be in discussions over the cost of funding its open standards next year, which could increase by up to 4,000.

  • Oryen in branded lending deal with Rooftop

    9 Oct 2006

    Oryen Mortgage Packaging has launched a branded lending relationship with Rooftop Mortgages.

  • Over half of brokers would recommend HomeBuy

    9 Oct 2006

    Over half of Mortgage Strategy Online readers last week voted that they would advise first-time buyers to take out the government's new HomeBuy scheme. However, whether their local housing association would allow them to keep hold of their clients is another question entirely.This week, Mortgage Strategy asks: "Do you think the Monetary Policy Committee will increase interest rates in November?"

  • Paaleads on track for 1,000 broker accounts

    9 Oct 2006

    Paaleads.com says it expects to have a whopping 1,000 new broker accounts opened by the end of the first week of its eBay-style bidding system going live online.

  • Packagers have important TCF role, says Opal

    10 Oct 2006

    Opal Home Loans, the Essex based specialist mortgage packager, says intermediaries who use packagers as a key part of its sub-prime mortgage work are able to demonstrate a clearer structure to their implementation of Treating Customers Fairly.

  • Paymentshield club adds three lenders to panel

    9 Oct 2006

    Paymentshield Mortgage Club has added edeus, Bank of Ireland and Amber Homeloans to its panel.

  • Personal Touch supermarket

    9 Oct 2006

    Personal Touch Financial Services' managing director Mike Allison says Lloyds TSB's investment in the network will turn it into a financial services supermarket. The network confirmed last week that it had received a big investment from Lloyds Development Capital, part of the Lloyds TSB group.Allison says the move, which saw LDC buy 20% of PTFS, will make the network a supermarket for brokers, offering a wide variety of products, including loans and credit cards. Allison adds: "We ...

  • Pink launches online events calendar

    10 Oct 2006

    Pink has launched an online events calendar aimed at helping their appointed representatives organise their busy schedules.

  • Pink offers deals with BM Solutions and MEX

    9 Oct 2006

    Pink Home Loans has launched a range of products in association with BM Solutions and Mortgage Express.

  • PMS to hold roadshow in Northern Ireland

    9 Oct 2006

    Premier Mortgage Service will be holding a roadshow in Belfast on October 19, 2006 along with 16 lenders committed to the mortgage market in Northern Ireland.

  • Politicians miss the point on green homes

    9 Oct 2006

    The need to move to-wards higher levels of environmental performance from homes has recently been acknow-ledged by politicians of all parties.

  • POSing a threat to brokers

    9 Oct 2006

    Point-of-sale systems could spell danger for intermediaries if they develop into direct to consumer solutions, says Chess Financial Services.Edeus and GMAC-RFC have taken the market by storm with the launch of their POS-O systems.But Bob Singh, managing director of Chess, fears that the technology could be used to cut brokers out of the equation.Singh says: "While I welcome this great leap forward and recognise that the technology offers great opportunities for brokers in the ...

  • PPI compensation warning

    9 Oct 2006

    Britishinsurance.com has predicted that compensation for payment protection insurance mis-selling will exceed that for endowment mis-selling.

  • Prudential warns Brits to prepare for flood risk

    10 Oct 2006

    With the Met Office warning of severe weather patterns over the next few months, Prudential Insurance is advising home owners to ensure they are well prepared and have adequate insurance.

  • Rates still static - for now

    9 Oct 2006

    The Bank of England's Monetary Policy Committee last week held interest rates at 4.75% for the second month in a row. But Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, thinks this is a temporary measure. "Given a buoyant economy and above-target inflation, a rise in the base rate before the end of the year is anticipated, and is likely to hit 5%," he says.

  • RICS says housing market will remain robust

    9 Oct 2006

    Following the release of the DCLG house price figures, the Royal Institution of Chartered Surveyors says the housing market will remain robust in the coming months.

  • Run for the hills

    9 Oct 2006

    A Greek bank has launched a mortgage service based in London for those looking to buy land or property in Greece.Piraeus Bank is offering mortgages of up to 80% loan to value for existing properties, and up to 70% LTV for the purchase of land.

  • Rushton International wins excellence award

    12 Oct 2006

    Rushton International has been awarded the ISO 9001:2000 international quality award. The specialist insurance valuation practice won the award for demonstrating a sustained commitment to quality.

  • Scarborough unveils rates

    9 Oct 2006

    Scarborough Specialist Mortgages has unveiled details of its product range.Products include near prime rates from 5.34%, light adverse from 5.39%, medium adverse from 5.99%, heavy adverse from 6.29%, self-cert from 5.54%, specialist buy-to-let from 5.34% and adverse buy-to-let from 6.49%.The lender says it is hoping to make an immediate impact with its rates which it claims are among the best in the market and signal a fresh approach to sub-prime loans.The range will offer ...

  • Select & Protect receives five star Defaqto rating

    11 Oct 2006

    Household insurer Select & Protect has been awarded the Defaqto rating of five stars for its Ultima and Ultima New Home contents insurance policies.

  • Setting the record straight on AIPs and lending leagues

    9 Oct 2006

    From Jeff Knight

  • Short-term fixes on way out

    9 Oct 2006

    Lenders are predicting that cheaply funded two-year fixed-rate products will soon be a thing of the past.This prediction was made at the lenders' forum at the Bankhall conference in Berlin. John Malone, managing director of Premier Mortgage Service, says: "Key lenders do not expect cheaply funded two and three-year fixed rate mortgages to be around in the next few years. "A number of intermediaries in London have clients who want large mortgages for just ...

  • Should teenagers be offered a GCSE in personal finance?

    9 Oct 2006

    With UK debt at an all-time high its no surprise the government is racking its brain to think of ways to tackle the problem. One solution it is considering is introducing a GCSE in personal finance, teaching teenagers how to manage store cards, take out loans and start saving for a mortgage.So, this week Mortgage Strategy asks

  • Simplybiz takes show on the road

    9 Oct 2006

    SimplyBiz Mortgages is hitting the road again with its autumn round of dedicated mortgage meetings.The meetings will follow a round table format with lender presentations from Cheltenham & Gloucester, GMAC-RFC, Kensington Mortgages and Future Mortgages. There will also be a dedicated compliance table from SimplyBiz and support on case placement from Midlands-based packager Mortgage-1.Jason Graham, managing director of SimplyBiz, says: "We have 10 meetings already fixed ...

  • Skipton launches seven-year fix

    11 Oct 2006

    Skipton is expanding its range of fixed rate products, by launching a seven-year fixed rate mortgage.

  • Sky TV show to whip sales staff into shape

    9 Oct 2006

    Managing directors unhappy with the performance of their sales teams will be given the chance to kick them into shape and get themselves five minutes of fame in the process.

  • Southern Pacific's KFI online

    9 Oct 2006

    Southern Pacific Mortgage has launched an online facility to enable Key Facts Illustration-style documentation to be produced for buy-to-let cases from its website. Prior to this facility, packagers introducing buy-to-let cases had to get the illustration from a sourcing system.

  • Spectrum names distributors

    9 Oct 2006

    Spectrum Lending is to launch its product range through packager em-financial and two other distributors. Highlights of the range are two and three-year fixed rates from 5.50% and for first-time buyers. It also has self-cert products up to 90% LTV.The range offers an income multiple of 4 x and new affordability calculations for full status cases.

  • Striking the right balance between man and machine

    9 Oct 2006

    A quick scan of the mortgage press in recent months would give the impression that the industry currently divides into two camps those lenders that embrace technology utterly, and those that are stuck back in the dark ages still using humans.

  • Swift lending volumes double

    9 Oct 2006

    Swift Group has doubled its lending volumes compared with the period from April to September last year. Second mortgage lending has shown strong growth and first mortgage lending has risen since Swift launched a discounted first mortgage last year. This now accounts for around 40% of new business. Swift has also recruited 25% more staff since April this year and now employs over 100 people.

  • Swiss Re buys GE Life

    13 Oct 2006

    Swiss Re has bought the GE Life group of companies for an agreed sum of £465m.

  • The Mortgage Mole

    9 Oct 2006

    Bye bye BarneyMole bids farewell to deputy features editor Barney McCarthy this week. But before he leaves to join the Dark Side, Mole thought he would take a look back at his past two years with Strategy.Once described as the "most prolific player since Alfie", Barney Love has charmed the ladies both at home and abroad. McCarthy has also enjoyed many a trip to foreign lands, including one outing to Poland to watch them play England in a World Cup qualifier.McCarthy ...

  • The vulnerable and the irresponsible

    9 Oct 2006

    Shocked as I am at many of the things lenders do, they pale in comparison with situations I have known clients get themselves into.

  • This Labour lifeline is attached to a millstone

    9 Oct 2006

    I've been looking at the government initiative designed to help first-time buyers get on the property ladder. Open Market HomeBuy is predicted to help 20,000 people buy their first homes.

  • TMB appoints director of sales

    10 Oct 2006

    The Mortgage Business has appointed David Murphy as director of sales and marketing.

  • TMB appoints sales director

    9 Oct 2006

    The Mortgage Business has appointed David Murphy as director of sales and marketing.

  • Two-year deals from Nationwide

    9 Oct 2006

    Nationwide has launched a fixed rate and a tracker product. The two-year fixed rate product is available at 4.47% and the two-year tracker is available at 4.29%.

  • Unauthorised borrowing costs rocket

    9 Oct 2006

    Business Monefacts says unauthorised borrowing charges and the issue of late payment represents an increasingly expensive, but in many cases, an unnecessary overhead for small to medium enterprises.

  • Universal merger approved

    9 Oct 2006

    Universal members have approved the merger of Universal and Newcastle at a special general meeting, held at the Gosforth Marriott Hotel, Newcastle upon Tyne. The deal will now be subject to confirmation by the Financial Services Authority. The date for the move is expected to be December 31, 2006, and members' merger bonus payments will be made within 14 days of this date.

  • We must keep pace with the FSA

    9 Oct 2006

    As we near the second anniversary of mortgage regulation, with general insurance to follow in early 2007, we can see the regulatory landscape evolving. Michael Lord, head of mortgages and credit unions in the small firms division at the Financial Services Authority, recently said that "some commentators in the trade press have noticed the increased enforcement activity involving small mortgage firms and have correctly reported that the honeymoon period is over".

  • Webline in deal with first4cover

    9 Oct 2006

    Webline is to provide buildings and contents insurance with first4cover. The service will give Webline's 15,000 users the chance to access rates and live quotes for first4cover's products.

  • Wolton reappoints its first managing director

    12 Oct 2006

    Wolton Chartered Surveyors has reappointed its first managing director, Jon Stewart, to oversee the next phase of its development.

  • Woolwich launches City Bonus mortgage

    10 Oct 2006

    In anticipation of what is expected to be record City bonuses this year, Woolwich is launching a mortgage exclusively aimed at those expecting big bonus payments in the new year but want to buy now.

  • Yorkshire launches offset mortgage for small businesses

    9 Oct 2006

    Yorkshire Bank has launched a mortgage that allows sole traders and simplepartnerships to offset their business's credit balances against theirresidential home loan.

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